INVESCO ASIA DRAGON TRUST PLC

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Audit opinion

Unaudited (audit-exempt)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis. The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being taken as at least twelve months after signing the financial statements for the same reasons as set out in the Viability Statement in the Company's 2025 Annual Financial Report.”

Significant events

• “The first full six months since the transformational combination of Invesco Asia Trust with Asia Dragon Trust show strong absolute and relative performance.”
• “Over the six months to 31 October 2025 NAV total return of +34.1% and share price total return of +37.2% were both significantly ahead our benchmark (MSCI AC Asia ex Japan Index) total return of +31.4%.”
• “For the six months to 31 October 2025, a total of 1,235,000 shares were bought back into Treasury at a total cost of £4,301,000, representing 0.6% of the starting number of shares in issue (excluding treasury shares). This has been accretive to NAV by 0.06%.”
• “The new three-yearly unconditional tender through which shareholders can redeem as many of their shares as they wish at a 4% discount to NAV every three years, the first opportunity being in 2028.”
• “The enhanced dividend policy, paying out approximately 1% of the Company's unaudited year-end NAV quarterly over the subsequent four quarters.”
• “Helped by being one of the largest investment trusts at £955 million of net assets, a blended management fee of 0.57% based on 31 October 2025 net asset value and a projected annual ongoing charges level of 0.72% (once the Invesco fee waiver that was part of the merger process has expired in November 2025), makes us one of the lowest cost ways of investing in Asia.”
• “Following approval by shareholders at the Company's Annual General Meeting on 18 September 2025, the Court process to cancel the share premium account of the Company was implemented on 15 October 2025. Following the implementation the entire share premium account was cancelled, amounting to £530,091,000.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

18

last 12 months

Capital events

15

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.